Facebook Will Offer Up 50 Million More Shares Than Expected

Facebook Will Offer Up 50 Million More Shares Than Expected


Facebook has announced that it will be selling an extra 50.6 million shares, at a price likely to fall between $US34 and $US38 per share, reports TechCrunch. That should snag them at least another $US13.1 billion β€” and probably push their final valuation north of the expected $US100 million.

The extra release of 50,612,302 shares will be offered to underwriters to cover over-allotments. In total, that will mean that Facebook is now selling 388 million shares.

It’ still not worth buying one, though. [TechCrunch]

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